NIFTY
Pre-Market
Thursday! Asian market positive trading, Nifty50 on the SGX were trading lower
at 10495.50 +44 points on indicating gap up opening for the NSE.
At the
close in NSE, the Nifty 50 fell 0.21% to hit a new 1-month low, while the BSE
Sensex 30 index fell 0.33%.
The
biggest gainers of the session on the Nifty 50 were Hindustan Petroleum
Corporation Ltd, which rose 4.97% or 18.75 points to trade at 396.35 at the
close. Aurobindo Pharma Ltd. added 3.23% or 19.25 points to end at 616.10 and
Coal India Ltd was up 2.05% or 5.95 points to 297.60 in late trade.
Biggest
losers included Ambuja Cements Ltd., which lost 2.74% or 7.00 points to trade
at 248.30 in late trade. Bharti Airtel Ltd. declined 2.03% or 8.90 points to
end at 430.25 and Bharti Infratel Ltd shed 1.86% or 6.40 points to 338.55.
The
breadth, indicating the overall health of the market, 2173 fell and 505
advanced, while 141 ended unchanged on the India National Stock Exchange.
Rupee
desk: The USD/INR was up 0.27 to 64.215.
CASH
FLOW ANALYSIS :
FII
DII Activity 7th February 2018, FII’s sold 1022 crores stock whereas DII’s
bought 461 crores worth of stock. In the derivative market, FII’s sold 1751
crore of Index futures and bought 586 crores worth of Index options. In the
Stock futures segment, FII’s bought 1242 crores worth of stock futures and sold
116 crores stock options.
Technical
outlook :
Nifty
daily chart formed "Ascending broadening Wedge” pattern. The last session
been bearish in trend and still indicates the same momentum for upcoming
sessions. The downside rally could test all the way through 10300-10100 levels
in the upcoming sessions. Alternatively, the market might also have a chance of
giving a small correction over positive momentum when it reaches the channel’s
support slope line near 10300. Key Resistance holds at 10700 and support at
10050.
Technical Chart :
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BANK NIFTY
Bank Nifty daily chart has formed "Rising wedge” pattern. The last few sessions opening in gap down formation ending in bullish trend as the prices have already broken out the channel’s support slope line. The market is expected to continue in the bearish
momentum. The downside rally could test all the way through 24500-24000 levels in the upcoming sessions. Alternatively, if the support holds strong then buyers might take control over the market once again. Resistance holds at 26400. https://enrichbroking.in/
Technical Chart :
Technical Chart :
